Plovidba __link__ — Crnogorska

Crnogorska Plovidba: The Rise, Fall, and Structural Crisis of Montenegro’s State-Owned Maritime Flagship

The sale barely made a dent in the company’s liabilities. Although the immediate proceeds were used to pay down the debt to the Chinese Exim Bank, a 2025 financial report revealed the extent of the catastrophe. After the sale, Crnogorska plovidba was left with only three million euros in its account, but still owed the government of Montenegro a staggering 33.8 million euros. The company’s accumulated loss reached 40.7 million euros, and the value of its remaining assets (spare parts and office supplies) was a paltry 18,311 euros. crnogorska plovidba

. Established by the Government of Montenegro to revitalize the nation’s historical presence on global trade routes, the company operated a small fleet of bulk carriers on the international open market. However, after years of systemic debt, geopolitical shifts, and technical management crises, the company was forced to sell off its entire fleet, marking a dramatic end to state-led maritime operations in the Boka Bay region. Crnogorska Plovidba: The Rise, Fall, and Structural Crisis